Aclarion (NASDAQ:ACON) Shares Up 0.8% – Time to Buy?

Aclarion, Inc. (NASDAQ:ACON)’s share price shot up 0.8% during trading on Tuesday . The stock traded as high as $2.45 and last traded at $2.38. Approximately 38,453 shares were traded during mid-day trading, a decline of 14% from the average session volume of 44,693 shares. The stock had previously closed at $2.36.

Analyst Upgrades and Downgrades

ACON has been the subject of a number of recent analyst reports. Weiss Ratings raised Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday. Wall Street Zen raised shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Ascendiant Capital Markets increased their target price on shares of Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Aclarion Trading Down 0.4%

The company has a market capitalization of $5.78 million, a PE ratio of -0.26 and a beta of 1.21. The business has a fifty day moving average of $2.86 and a 200 day moving average of $3.07.

Aclarion (NASDAQ:ACON) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.07). Aclarion had a negative return on equity of 54.41% and a negative net margin of 10,320.51%.The business had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.03 million. Equities analysts forecast that Aclarion, Inc. will post -4.51 EPS for the current fiscal year.

Aclarion announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 22nd that allows the company to buyback $2.50 million in outstanding shares. This buyback authorization allows the company to purchase up to 31% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Aclarion Company Profile

Aclarion, Inc, a healthcare technology company, leverages for Magnetic Resonance Spectroscopy (MRS) in the United States. It develops NOCISCAN Post-Processor suite of software applications comprising NOCICALC that receives the raw un-processed NOCISCAN MRS exam data and post-processes that raw data into final spectra and performs various degenerative pain biomarker; and NOCIGRAM, a clinical decision support software. The company was formerly known as Nocimed, Inc and changed its name to Aclarion, Inc in December 2021.